CX Institutional Boosts Holdings in Iron Mountain Incorporated $IRM

CX Institutional lifted its stake in shares of Iron Mountain Incorporated (NYSE:IRM) by 544.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 11,246 shares of the financial services provider’s stock after acquiring an additional 9,501 shares during the period. CX Institutional’s holdings in Iron Mountain were worth $1,146,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of IRM. Vanguard Group Inc. grew its holdings in Iron Mountain by 0.5% in the second quarter. Vanguard Group Inc. now owns 47,064,887 shares of the financial services provider’s stock valued at $4,827,445,000 after purchasing an additional 239,153 shares during the period. State Street Corp boosted its holdings in shares of Iron Mountain by 0.6% in the 2nd quarter. State Street Corp now owns 16,809,643 shares of the financial services provider’s stock valued at $1,737,002,000 after purchasing an additional 104,524 shares during the last quarter. Invesco Ltd. grew its stake in shares of Iron Mountain by 50.6% during the 2nd quarter. Invesco Ltd. now owns 4,289,583 shares of the financial services provider’s stock valued at $439,983,000 after buying an additional 1,440,629 shares during the period. Norges Bank purchased a new stake in shares of Iron Mountain during the 2nd quarter valued at $419,457,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Iron Mountain by 4.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,625,808 shares of the financial services provider’s stock worth $371,899,000 after buying an additional 138,329 shares during the last quarter. 80.13% of the stock is owned by institutional investors and hedge funds.

Iron Mountain Stock Performance

IRM stock opened at $87.28 on Friday. The firm has a market cap of $25.80 billion, a P/E ratio of 164.69 and a beta of 1.13. Iron Mountain Incorporated has a 1 year low of $72.33 and a 1 year high of $112.18. The stock has a 50-day simple moving average of $87.45 and a 200-day simple moving average of $94.76.

Iron Mountain (NYSE:IRM) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. Iron Mountain had a negative return on equity of 112.70% and a net margin of 2.40%.The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.75 billion. During the same quarter in the prior year, the business earned $1.13 EPS. Iron Mountain’s quarterly revenue was up 12.7% compared to the same quarter last year. Iron Mountain has set its FY 2025 guidance at 5.040-5.130 EPS. On average, equities research analysts predict that Iron Mountain Incorporated will post 4.54 EPS for the current year.

Iron Mountain Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, December 15th were issued a dividend of $0.864 per share. This represents a $3.46 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Iron Mountain’s previous quarterly dividend of $0.79. Iron Mountain’s dividend payout ratio (DPR) is 652.83%.

Insiders Place Their Bets

In related news, CEO William L. Meaney sold 38,482 shares of Iron Mountain stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $83.17, for a total transaction of $3,200,547.94. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark Kidd sold 6,000 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $83.10, for a total transaction of $498,600.00. Following the completion of the transaction, the executive vice president directly owned 55,081 shares of the company’s stock, valued at approximately $4,577,231.10. The trade was a 9.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 202,038 shares of company stock valued at $18,424,270. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IRM. Zacks Research upgraded Iron Mountain from a “strong sell” rating to a “hold” rating in a report on Monday, October 20th. JPMorgan Chase & Co. raised their price objective on Iron Mountain from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Jefferies Financial Group began coverage on Iron Mountain in a research note on Monday, September 22nd. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays increased their target price on shares of Iron Mountain from $122.00 to $123.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Iron Mountain in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.80.

Iron Mountain Company Profile

Iron Mountain Incorporated is a global information management company that helps organizations protect, store, and manage their physical and digital information. The firm provides a range of services including secure records storage, document imaging and digitization, secure shredding and destruction, and information governance solutions designed to support regulatory compliance and business continuity. Iron Mountain also offers specialized secure storage environments and logistics for sensitive assets such as art, medical records, and legal archives.

Beyond traditional records management, Iron Mountain has expanded into technology-driven services to support customers’ digital transformation.